Commodity Market Report
Global copper short-term outlook February 2020
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The unprecedented challenges posed by the spread of the COVID-19 virus rattled the copper market in February. The copper price has come under significant downward pressure, fuelled by the speculative selloff as investors turned bearish. The crisis is evolving rapidly. Industrial sectors in China have been gradually resuming operations; the estimated loss of working days and disruption to copper demand in February is close to two weeks. We expect a much smaller loss of copper demand in March as production picks up. The concentrate market has been impacted by the reduction in smelter utilisation rates, accelerated by the collapse in demand for sulphuric acid, but also from some smelters rescheduling maintenance.
Table of contents
- Market developments
-
Asia
- China
- Japan and South Korea
- India and ASEAN
- Europe
- USA
- Latin America
-
Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Production News
- Project development
- Corporate activity
Tables and charts
This report includes the following images and tables:
- LME cash price and 3-month spread
- Virus fears drive metals sell off
- Managed money CFTC positions
- Managed money LME positions
- Chinese raw material imports as a share of refined consumption
- Exchange stocks
- Price forecasts and world quarterly supply/demand balance (kt)
- Regional manufacturing PMI
- Production and shipments of copper wire rod and copper semis - kt
- Global quarterly refined copper consumption - kt
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- 13 more item(s)...
What's included
This report contains:
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